The volume of real estate investments in Romania exceeded €585 million in the first nine months, shows the latest research report of CBRE. The office market attracted more than half of the investments, Bucharest and Cluj-Napoca being the most dynamic cities, with almost 90 percent of the investment volume.
ibis Styles Budapest Genius in the 11th district of Budapest will welcome first guests in the fall of 2020. According to the recently signed agreement, Accor Pannonia Hotels Zrt. will manage the hotel.
The first boxes with orders from a Polish clothing manufacturer have already set off from the warehouse just outside Bucharest. Thanks to the launch of the fulfilment centre with an area of 22,000 sqm LPP is now able to do deliveries to customers from South-Eastern Europe even the next day after the transaction. The warehouse will handle online orders for all five brands of LPP: Reserved, Cropp, House, Mohito, and Sinsay.
CPIPG expects to acquire more than €800 million of high-quality offices in Warsaw, Poland during Q4 2019 and early Q1 2020. The company’s team in Warsaw has identified eight properties totalling more than 235,000 sqm and has signed letters of intent (with exclusivity) on assets valued at more than €700 million.
Futureal Group has started the development of the final office complex on Corvin Promenade in Budapest, Hungary. Corvin7 developed in two phases will offer nearly 30,000 sqm of gross leasable area (GLA) in the immediate vicinity of Corvin Offices.
NEPI Rockcastle announced that it will inaugurate Promenada Sibiu on November 14 following an investment of €100 million. The developer will also open a shopping centre in Târgu Mureș in March following an investment of €70 million.
NEPI Rockcastle plans to develop residential projects around the shopping centres it owns in Romania. The company will develop apartment buildings in five cities: Brașov, Bucharest (around Mega Mall and Vulcan), Râmnicu Vâlcea, Satu Mare, and Timișoara.
Prosperity on the real estate investment market in Poland is still noticed. Good economic situation and attractive yields in comparison to the Western Europe has attracted foreign investors even from distant countries and continents. Will the momentum be kept? What are the forecasts for the end of 2019?
Having closed CEE’s largest ever real estate transaction this summer, CTP is carrying on with its ambitious development plan. Group CFO Richard Wilkinson talked to Property Forum about the company’s upcoming projects and the financing conditions industrial developers face.
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